Samsung, LG Display To Invest In OLED Panels: Reports

(RTTNews) - Samsung Electronics Co. Ltd. (SMSN.L, SSNNF.OB, SSNLF.OB) and LG Display Co., Ltd. (LPL) are planning to invest billions of dollars into making organic light-emitting diode or OLED panels, reports said.

Samsung Display is said to be planning to invest 4 trillion won or about $3.6 billion into these panels, as its parent Samsung is faced with increasing competition and weak earnings in its smartphone business. The investment is likely to be spread over two years, starting from this year.

Meanwhile, LG Display Co. is said to be planning to spend another 1 trillion won on its large-sized OLED panel production in South Korea, as the company tries to cater to the increasing demand. The company has already invested 800 billion won on the OLED panel production line.